2017 BOMA California
Advocacy Meeting Dates
For information on participating in BOMA Cal advocacy efforts, please contact BOMA SV Government Affairs
Chair Sarahann Shapiro.
BOMA Cal Board Meeting
CBPA Winter Board Meeting
New Legislator Luncheon
Legislative Committee Meeting
Real Estate Summit
BOMA California Board Meeting
June 22-June 27
BOMA International Annual Conference
BOMA California Board Meeting
Strategic Issues Conference
BOMA International Updates
PRESIDENTIAL DEBATE PUTS CARRIED INTEREST IN SPOTLIGHT
The second U.S. presidential debate, which took place October 9, brought the issue of carried interest back onto the national stage. Republican presidential candidate Donald Trump was asked what tax provisions he would alter and he replied that he would "get rid of carried interest." Democratic presidential candidate Hillary Clinton reiterated that she, too, would eliminate the provision.
Carried interest is the often vilified—and more often misunderstood—tax provision that treats gains from a real estate investment general partner as capital gains rather than ordinary income, allowing them to be taxed at a lower rate. The real estate industry uses carried interest to spur development. Taxing carried interest at a higher rate would mean general partners would demand a higher flat fee from their investors, often institutional investors, and fewer deals would get done. BOMA International will continue to follow this issue closely and ensure that the concerns of the commercial real estate industry are heard in Congress.
For more information on carried interest, visit BOMA's Industry Issues.
BOMA California Updates
Advocacy: Local, State & National
BOMA Silicon Valley
BOMA Silicon Valley's Government Affairs Committee members oversee City and County legislative activity and participate in BOMACAL, the state political arm of BOMA. BOMA Silicon Valley members receive periodic Legislative Alerts which call attention to important legislative issues that need action immediately. Members also receive ongoing updates of legislative activities and articles on important issues in the BOMA Silicon Valley newsletters.
BOMACAL represents each local Building Owners and Managers Associations and provides direction to BOMA California staff working in the State Capitol and at regulatory agencies to preserve and promote the interest of California commercial real estate professionals through legislative and regulatory advocacy.Through individual action and strategic alliances, BOMA California has ccomplished the following:
- Legislation: BOMA California tracks and directly engages legislators on legislation which would have significant impact our members.
- Energy: BOMA California is the only organization representing the commercial real estate industry full-time in front of key energy regulatory agencies. Their efforts before the California Public Utilities Commission (CPUC) led to significant rate reductions in Northern and Southern California, a historic agreement to allow owners to submeter tenants’ electrical usage, and stopped mandatory Demand Reduction proposals such as Critical Peak Pricing. It is estimated that these efforts directly saved members upwards of $43M in Northern California alone on their energy bills.
- Regulatory/Taxation: BOMA California protects commercial property owners’ interests on a wide variety of issues including AB 32/Greenhouse Gas regulations, forced access by telecommunications companies, energy deregulation, mandatory statewide fire sprinkler retrofit requirements, split roll property taxation, toxic mold liability, extreme new disabled access requirements, and much, much more. BOMA California is directly engaging in the process that will produce a set of "green" building codes, making California the first state in the nation to adopt such standards.
BOMA International is constantly monitoring and responding to legislative, regulatory, and codes and standards initiatives as part of its mission to advocate the interests of building owners and managers in the various model code and standards setting organizations. Through comprehensive, timely and practical publications and guides, BOMA strives to educate the office building industry on the implications of new laws and regulations.
For more information, visit BOMA International’s Advocacy Page.